This paper investigates the role of generic vs. specific complementary assets in corporate venture capital (CVC). Looking at investments in general purpose technology (GPT) startups, as per the case of artificial intelligence (AI), we unfold a more complex and nuanced relationship between firm’s generic vs. AI-specific complementary assets and CVC activities in GPT startups, as well as performance implications for firm’s AI innovation productivity and firm profitability. We analyze CVC investments of 384 corporations in 2010-2021 period; our findings reveal new insights that contribute to the CVC literature and extent the emerging AI research in the realm of corporate entrepreneurship.
Corporate VC Investments in General Purpose Technology: The Case of Artificial Intelligence
Benedetta Montanaro;
2023-01-01
Abstract
This paper investigates the role of generic vs. specific complementary assets in corporate venture capital (CVC). Looking at investments in general purpose technology (GPT) startups, as per the case of artificial intelligence (AI), we unfold a more complex and nuanced relationship between firm’s generic vs. AI-specific complementary assets and CVC activities in GPT startups, as well as performance implications for firm’s AI innovation productivity and firm profitability. We analyze CVC investments of 384 corporations in 2010-2021 period; our findings reveal new insights that contribute to the CVC literature and extent the emerging AI research in the realm of corporate entrepreneurship.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
